Franklin BSP Realty Trust, Inc. (FBRT): debt financing — FBRT closes $880.4M CRE securitization; sells $778.1M in notes

Franklin BSP Realty Trust, Inc.

Issuer BSPRT 2026-FL13 closed $880.4M securitization backed by commercial/multifamily loans.
Sold $778.1M of nine classes of floating-rate notes due 2043; retained $59.4M in Class J Income Notes.
Proceeds to repay credit facility borrowings, fund future loans, and for general corporate purposes.
Initial weighted average lives range from 3.09 yrs (Class A) to 4.76 yrs (Class E); rates are SOFR + spread.
Transaction structured as financing; FBRT consolidates Issuer and intends to hold portfolio to maturity.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Franklin BSP Realty Trust, Inc. incurred senior notes of $880.4 million with Wilmington Trust, National Association at 1.5000% plus 1 Month CME Term SOFR, 1.7000% plus 1 Month CME Term SOFR, 2.0000% maturing October 18, 2043.

Instrument: senior notes
Principal: $880.4 million
Counterparty: Wilmington Trust, National Association
Rate: 1.5000% plus 1 Month CME Term SOFR, 1.7000% plus 1 Month CME Term SOFR, 2.0000%
Maturity: October 18, 2043
Event: incurrence

Exact text from the filing

closed an approximately $880.4 million commercial real estate mortgage securitization transaction, and sold approximately $778.1 million of the securitization’s notes in a private placement.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Franklin BSP Realty Trust, Inc. entered into Indenture with Benefit Street Partners Realty Operating Partnership, L.P., as Advancing Agent; Wilmington Trust, National Association, as Trustee; Computershare Trust Company, National Association, as Note Administrator and Custodian valued at approximately $880.4 million (effective 2026-04-15).

Action: entry
Agreement: notes offering
Counterparty: Benefit Street Partners Realty Operating Partnership, L.P., as Advancing Agent; Wilmington Trust, National Association, as Trustee; Computershare Trust Company, National Association, as Note Administrator and Custodian
Value: approximately $880.4 million
Effective: 2026-04-15

Exact text from the filing

closed an approximately $880.4 million commercial real estate mortgage securitization transaction, and sold approximately $778.1 million of the securitization’s notes in a private placement. The notes were issued pursuant to an indenture (the “Indenture”), dated as of the Closing Date, by and among the Issuer, Benefit Street Partners Realty Operating Partnership, L.P., as advancing agent (the “Advancing Agent”), Wilmington Trust, National Association,, as trustee (the “Trustee”) and Computershare Trust Company, National Association, as note administrator (the “Note Administrator”) and custodian, and in other capacities.

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Franklin BSP Realty Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-26-045531

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